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Joele Frank is handling Blackbaud, the Charleston-based $1.1B marketer of software designed to empower social impact, as it fends off an unsolicited takeover bid from Clearlake Capital Group.
The $71 per share offer is a 25.9 percent premium over the 30-day average trading price of Blackbaud’s stock for the period ended March 24.
Blackbaud’s board has determined that the proposal is highly opportunistic and significantly undervalues the company.
Chairman Andrew Leitch called the bid an overt attempt to put Blackbaud in play.
Non-profits and educational institutions use Blackbaud’s software for fundraising, grantmaking and financial management.
Joele Frank, Wilkinson Brimmer Katcher’s Jamie Moser and Nick Lamplough represent Blackbaud.
Lambert’s Jennifer Hurson is working for Clearlake Capital Group, which is headquartered in Santa Monica.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
